Well with any luck I am now one more payment (end of October) away from completing this salvation/nightmare experience. I hate the expression “It’s been a roller coaster of a ride” but somehow it really does some up my IVA. Not sure whether this is a question or just a general moan or observation. Another poster posted recently about a friend’s credit card company upping the minimum payments because the debtor had been making minimum payments and was therefore a persistent debtor. Surely this is wrong and companies shouldn’t be made/encouraged to do this by the government. Depending when this happens they could force some individuals into unmanageable debt situations. Causing unnecessary bankruptcies, IVAs, DROs and broken relationships. If someone is extended credit and manages to stay within the terms of that credit they should be encouraged to pay more if they can but not forced to as long as they are holding up their end of the deal. Whilst my soapbox is still out I’d also like to mention the annoying little hidden things that the unwary get caught with in IVAs. It wasn’t until I’d been in my IVA quite some time, despite reading everything I could, that I realised that even after I hit the last payment in month 72 (1 yr extra in lieu of equity). This still won’t really be over. I will have the dreaded wait to see if I have paid every thing I should and paid all my uplifts for o/t etc). Then the wait for the completion certificate. (I’m with Creditfix, never thought that might be a good thing) and even when that elusive little beaut arrives I will still have a further 3 month wait to be solvent again in the eyes of the insolvency register. I really shouldn’t post when I’ve had my fortnightly bottle of wine and I apologise for my somewhat pointless rant. But it’s good to talk and you guys feel like family so hey ho. One more to go. Wish me luck and I keep my fingers crossed for those of you trying to start this trek and wish all those on it a speedy and uneventful journey. Over and out!
PS. I would be remiss if I didn’t say thanks to Foggy and many others on here for the sage advice they dole out on a daily basis. Thanks guys. One glass left
You put it there more eloquently than I managed, the persistent debtor being caused more issues really made me want to get on my soapbox, but I didn't have anyone to do so to, which was why I ended up posting about it on here. I was so relieved not to be facing that extra hardship, because the government thinks I should pay more and so they insisted the company increase my payments.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk